When you use charts, all you need to do is spot repetitive chart patterns and trade them for profit and there are several reliable ones which continually repeat and the reason they do is because people make markets and human nature never changes and is repeated in these chart patterns.
On any currency chart, you will see trends which see a currency move up or down for many weeks or longer at a time and its your aim, to lock into these trends and hold them. When you are doing this you are trading the price as it is and your not interested in news or opinions – You are not concerned with why markets are trending, you just want to get into them and hold them for profit.
You need to learn the high odds chart formations and become familiar with support and resistance; once you have learned the visual patterns you can learn some indicators to help you time your trading signals. Indicators are visual to and the ones you are interested in are the ones that measure momentum of price to see how strong or weak a trend is, good ones to use are the MACD, RSI and the stochastic, there are numerous indicators you can choose from but always keep your system simple and only use a few to confirm your moves. … Continue Reading
